Retired tennis great Maria Sharapova has taken a leap into the wellness category with an investment in Therabody (formerly known as Theragun), the makers of wellness tech, including percussive therapy devices. Sharapova is also joining Therabody as a member of its Advisory Board.
Sharapova told CNBC she will bring a “360-degree outlook” to the company as an athlete, an entrepreneur and a consumer.
“Throughout my career, as both an athlete and entrepreneur, it’s been important to me to work with brands and partners that have great potential and can have a positive impact,” says Sharapova. “Since Therabody’s launch, they have continued to demonstrate they are on the cutting-edge of combining technology, fitness and wellness, and bringing more balance to people’s lives. I’m thrilled to join the team as they continue their mission to transform and revolutionize the tech wellness space.”
After retiring from professional tennis in February 2020 as a five-time Grand Slam title winner, Sharapova has been investing in health and wellness companies. Sharapova’s involvement as an advisor includes working with Therabody on its product offerings, advising on initiatives from concept to execution as well as supporting the company’s continuing expansion in the European and Asian markets. As a member of Therabody’s Advisory Board, Sharapova will also advise on company partnerships, growth strategies, and the brand’s future direction within the tech wellness space.
“I am proud to welcome Maria Sharapova to our Therabody family as an investor and strategic advisor,” says Benjamin Nazarian, CEO of Therabody. “As we continue to innovate and offer whole-body wellness products, Maria shares Therabody’s vision to improve people’s lives with natural wellness solutions. As a former professional athlete, she knows exactly how to recover and take care of her body on and off the court. The Therabody team is excited to work with Maria to use that experience to share with our growing community to continue to change people’s lives.”
Sharapova's other investments include interests in the UFC, the mixed martial arts promotion company, and skincare brand Supergoop. She also has her own candy brand, Sugarpova, offering treats including gumballs shaped like tennis balls and gummy lips in several flavors.
She told Fox Business that she had invested $500,000 in the candy business in 2012 and that in 2018, it was worth $20 million.
Sharapova, who announcer her retirement in February, was the seventh-highest-paid female athlete in the world in 2019 with $7 million in total earnings. She made $6 million from endorsement deals with companies including Nike, Porsche, Head, Evian and Tag Heuer.